Property Valuation
What does 'arm's length transaction' mean in Idaho real estate appraisal?
AA transaction where parties cannot physically reach each other
BA transaction between unrelated parties acting in their own self-interest without undue pressure or unusual conditions✓ Correct
CA transaction requiring no agent involvement
DA transaction where both parties must be physically present at closing
Explanation
An arm's length transaction occurs between unrelated parties acting freely in their own self-interest, with no special relationships, duress, or unusual conditions. Sales comparables must typically be arm's length transactions to be valid in appraisals.
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